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Are you referring to vote delegation? ENS holders 'delegate' their votes towards a person or entity, which then votes on their behalf, and this delegation can b
by chizhik-pyzhik 5y ago
Are you referring to vote delegation? ENS holders 'delegate' their votes towards a person or entity, which then votes on their behalf, and this delegation can be changed at any time if the delegates are malicious.
This might not feel as democratic as direct one vote-per-token, but that scheme tends to have much lower turnout (as seen with compound.finance and curve.fi voting).
- wmf 5y agoI'm looking at the pie chart. If 75% of the tokens don't vote and 11 people own ~18% out of the voting 25% then those 11 effectively control the DAO.
- chizhik-pyzhik 5y agoIt looks like the top 11 delegates control around 40% of the vote[1], so nearly effective control. That does seem like a small group, but if a delegate was acting maliciously, I'd expect a number of their holders to change delegation. [1] https://sybil.org/#/delegates/ens https://sybil.org/#/delegates/ens